Source perplexity and citations JPMorgan Chase [ -4.68%] and Wells Fargo [ -1.34%] executives said at a Goldman Sachs [ +1.14%] conference on December 9 that AI is driving major productivity gains, with some operations seeing efficiency improvements of 40% to 50%, though they acknowledged workforce reductions are inevitable.[reuters +1]• JPMorgan’s Marianne Lake reported the bank doubled its productivity from 3% to 6% annually through AI, while Wells Fargo CEO Charlie Scharf said generative AI has made engineers 30% to 35% more efficient in writing code, and Wells Fargo’s workforce has already declined from 275,000 in 2019 to just over … Continue reading Major US banks say AI will boost productivity but cut jobs

Nvidia [-0.53%] CEO Jensen Huang issued a stark warning that China’s ability to rapidly build AI infrastructure could give it a decisive advantage over the United States, even as American companies maintain technological superiority in chip design.Speaking at the Center for Strategic and International Studies in late November, Huang highlighted a dramatic disparity in construction timelines. Building a data center in the United States “from breaking ground to standing up an AI supercomputer is probably about three years,” he said. By contrast, China “can build a hospital in a weekend,” underscoring the speed advantage that could prove critical as AI … Continue reading Nvidia CEO warns China’s infrastructure speed threatens U.S. AI lead

I found this fascinating insight from Anthropic. Image source: Reve / The Rundown ———- The Rundown: Anthropic researchers published a new study finding that Claude can sometimes notice when concepts are artificially planted in its processing and separate internal “thoughts” from what it reads, showing limited introspective capabilities. The details: Why it matters: This research shows AI may be developing some ability to monitor their own processing, which could make models more transparent by helping accurately explain reasoning. But it could also be a double-edged sword — with systems potentially learning to better conceal and selectively report their thoughts. Continue reading Claude shows limited ‘self-awareness’

New Updates 3m ago05:17 Haythornthwaite is asked how he views the UK’s standing on the world stage — London’s reputation has taken a bit of a beating of late because of the city’s lackluster capital markets. He said the UK is still holding its own and he’s proud of the country’s universities for churning out startups and entrepreneurs.  “We can’t take this for granted,” he says, noting the country needs to focus on unlocking capital from pension funds in order to stay competitive. “International competition is growing very rapidly,” he said and “we’re in danger of losing the lead.” Jenny SuraneFinance … Continue reading Europe Needs Strategic Approach to AI, Says UK Minister